PROCEPT BioRobotics (NASDAQ:PRCT) Coverage Initiated by Analysts at Stephens

Stephens initiated coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT - Free Report) in a research note published on Wednesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $70.00 price objective on the stock.

A number of other research analysts also recently issued reports on the stock. Oppenheimer started coverage on shares of PROCEPT BioRobotics in a research report on Monday, July 7th. They set a "market perform" rating for the company. Bank of America decreased their target price on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wall Street Zen upgraded shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Truist Financial decreased their target price on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.50.

PROCEPT BioRobotics Stock Performance

Shares of NASDAQ:PRCT traded down $2.56 on Wednesday, hitting $56.65. 548,062 shares of the company were exchanged, compared to its average volume of 847,037. PROCEPT BioRobotics has a 1-year low of $47.04 and a 1-year high of $103.81. The stock's 50 day moving average price is $58.29 and its 200 day moving average price is $62.75. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.13 billion, a P/E ratio of -33.32 and a beta of 1.07.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.04. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. PROCEPT BioRobotics had a negative net margin of 36.20% and a negative return on equity of 28.09%. The firm's quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.51) earnings per share. Sell-side analysts predict that PROCEPT BioRobotics will post -1.75 EPS for the current year.

Insider Activity at PROCEPT BioRobotics

In other news, Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the completion of the sale, the director owned 14,363 shares of the company's stock, valued at $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 100,000 shares of company stock worth $6,271,250 over the last three months. 6.60% of the stock is owned by insiders.

Institutional Trading of PROCEPT BioRobotics

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in PROCEPT BioRobotics by 9.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,779 shares of the company's stock valued at $527,000 after acquiring an additional 723 shares in the last quarter. Sei Investments Co. grew its stake in PROCEPT BioRobotics by 189.2% during the 4th quarter. Sei Investments Co. now owns 95,315 shares of the company's stock valued at $7,675,000 after acquiring an additional 62,359 shares in the last quarter. Vanguard Group Inc. grew its stake in PROCEPT BioRobotics by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 5,140,426 shares of the company's stock valued at $413,907,000 after acquiring an additional 297,075 shares in the last quarter. GAMMA Investing LLC grew its stake in PROCEPT BioRobotics by 7,021.1% during the 1st quarter. GAMMA Investing LLC now owns 6,409 shares of the company's stock valued at $373,000 after acquiring an additional 6,319 shares in the last quarter. Finally, Mariner LLC grew its stake in PROCEPT BioRobotics by 40.6% during the 4th quarter. Mariner LLC now owns 8,406 shares of the company's stock valued at $677,000 after acquiring an additional 2,429 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company's stock.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).